Now assume that there is free trade between the European Union and US.

I need help with applying the equations to answer questions d, e, and f.

Now assume that there is free trade between the European Union and US.

d.  Determine the international equilibrium price of corn (per ton).

e. How much corn is produced and consumed in the European Union and US.

f. How much corn is traded between the two regions? Draw graphs to represent the market situation before and after trade.

Equations for corn:

EU = 70 - 2 PEU

EU = 20 + 3PEU

US = 130 - 3PUS

US = 30 + PUS